# BenchSci

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/benchsci

- Industry: Software
- Headquarters: Toronto, Canada
- Website: www.benchsci.com
- Total disclosed funding: $165M
- Latest round: Series D (May 25, 2023)
- Investors on record: 10

## About

BenchSci is a Canadian company focused on leveraging Generative AI technology to enhance preclinical research in the life sciences sector, providing scientists with advanced tools for data analysis and research methodologies.Founded in Toronto, Canada, in 2015, BenchSci specializes in AI-driven solutions for preclinical research. The company has completed 8 deals, with its most recent funding occurring on May 25, 2023. The latest round of funding was a Series D, raising CAD 95.000 mn, led by Generation Investment Management, with participation from investors including F-Prime Capital, Golden Ventures, Inovia Capital, and TCV. The CEO is Liran He, who co-founded the company alongside Tom Leung.BenchSci's core offering is the ASCEND platform, designed as a science-first Generative AI (GenAI) R&D tool aimed at enhancing preclinical research in the life sciences sector. ASCEND serves as an AI assistant for scientists, facilitating navigation through complex biological data and research methodologies. The platform utilizes a sophisticated knowledge graph to create an evidence map of disease biology, synthesizing insights from scientific literature, patents, and historical lab results. Its primary users include pharmaceutical companies, biotech firms, and academic institutions involved in drug discovery and development, primarily in North America, Europe, and Asia.Revenue for BenchSci is generated through a subscription-based model for its ASCEND platform, which may include tiered pricing options based on client needs. Partnerships with pharmaceutical companies and academic institutions are crucial, allowing these entities to enhance their research capabilities through direct subscriptions to access the platform’s features, including data integration and experimental guidance. The ASCEND platform represents a significant value proposition in the life sciences market.In May 2023, BenchSci raised CAD 95.000 mn in Series D funding, led by Generation Investment Management. The company plans to utilize this funding to support the expansion of the ASCEND platform. Future growth initiatives include the development of new product features and the exploration of additional geographic markets to enhance their reach and impact.

## Funding rounds

- Series D, May 25, 2023, $70M — TCV, Inovia Capital, F-Prime Capital, Generation Investment Management, Golden Ventures
- Series C, Jan 24, 2021, $50M — TCV, Inovia Capital
- Series B, Feb 4, 2020, $17M — Northleaf Capital Partners, Inovia Capital, F-Prime Capital, Golden Ventures, Real Ventures, Gradient Ventures
- Series A, Jun 25, 2019, $21M — Gradient Ventures
- Series A, May 2, 2018, $8M — Inovia Capital, Golden Ventures, Real Ventures, Radical Ventures, Afore Capital, Gradient Ventures
- Seed, Jul 10, 2017 — Radical Ventures
- Seed, Oct 1, 2016 — Golden Ventures, Afore Capital

## Investors

- Golden Ventures (https://capitalatlas.ai/funds/golden-ventures) — Seed, Series A, Series B, Series D
- Afore Capital (https://capitalatlas.ai/funds/afore-capital) — Seed, Series A
- Radical Ventures (https://capitalatlas.ai/funds/radical-ventures) — Seed, Series A
- Inovia Capital (https://capitalatlas.ai/funds/inovia-capital) — Series A, Series B, Series C, Series D
- Real Ventures — Series A, Series B
- Gradient Ventures (https://capitalatlas.ai/funds/gradient-ventures) — Series A, Series B
- Northleaf Capital Partners (https://capitalatlas.ai/funds/northleaf-capital-partners) — Series B
- F-Prime Capital (https://capitalatlas.ai/funds/f-prime-capital) — Series B, Series D
- TCV (https://capitalatlas.ai/funds/tcv) — Series C, Series D
- Generation Investment Management (https://capitalatlas.ai/funds/generation-investment-management) — Series D